Proposing a balanced budget amendment to the Constitution of the United States.
Key claim: Proposes a constitutional amendment barring federal outlays from exceeding receipts in any fiscal year without a two-thirds vote in each chamber of Congress, and requiring the President to submit balanced budgets.
Abstract
(HJRES15 · 118th Congress) This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless Congress authorizes the excess by a two-thirds roll call vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing. The amendment also requires the President to submit an annual budget in which total outlays do not exceed total receipts. Latest action (2023-01-11): Referred to the House Committee on the Judiciary.
Why this matters
Proposes a constitutional amendment barring federal outlays from exceeding receipts in any fiscal year without a two-thirds vote in each chamber of Congress, and requiring the President to submit balanced budgets.